CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
|
| Revenues | ||||
| Total revenues | $ 226,057 | $ 222,134 | $ 641,995 | $ 605,783 |
| Expenses | ||||
| Salary and other personnel | 57,174 | 55,392 | 174,682 | 142,720 |
| Restructuring | (45) | 0 | 8,514 | 0 |
| Service fees | 36,924 | 34,024 | 100,935 | 88,160 |
| Provision for credit losses | 6,635 | 7,261 | 14,532 | 23,154 |
| Technology leasing and support | 10,157 | 8,006 | 29,612 | 22,184 |
| Occupancy and equipment | 5,240 | 5,362 | 15,271 | 13,489 |
| Depreciation, amortization and impairment | 20,778 | 19,600 | 62,924 | 49,794 |
| Operating interest expense | 1,483 | 1,860 | 4,419 | 4,747 |
| Cost of hardware and equipment sold | 706 | 1,830 | 2,499 | 5,033 |
| Other | 19,260 | 13,438 | 50,919 | 39,275 |
| Gain on divestiture | 0 | (27,169) | (1,215) | (27,169) |
| Total operating expenses | 158,312 | 119,604 | 463,092 | 361,387 |
| Operating income | 67,745 | 102,530 | 178,903 | 244,396 |
| Financing interest expense | (11,330) | (9,840) | (35,334) | (24,472) |
| Net foreign currency gain (loss) | 6,525 | (7,560) | (12) | (5,289) |
| Net realized and unrealized gain on fuel price derivative instruments | 7,922 | 14,773 | 4,671 | 9,057 |
| Non-cash adjustments related to tax receivable agreement | 1,634 | (1,356) | 1,634 | (1,356) |
| Income before income taxes | 72,496 | 98,547 | 149,862 | 222,336 |
| Income taxes | 30,714 | 24,697 | 61,647 | 69,557 |
| Net income | 41,782 | 73,850 | 88,215 | 152,779 |
| Less: Net gain (loss) attributable to non-controlling interests | 203 | (593) | (2,201) | (1,539) |
| Net earnings attributable to WEX Inc. | 41,579 | 74,443 | 90,416 | 154,318 |
| Accretion of non-controlling interest | (32,448) | |||
| Net earnings attributable to shareholders | $ 32,166 | $ 74,443 | $ 81,003 | $ 154,318 |
| Net earnings attributable to shareholders per share: | ||||
| Basic (in dollars per share) | $ 0.83 | $ 1.92 | $ 2.09 | $ 3.97 |
| Diluted (in dollars per share) | $ 0.83 | $ 1.91 | $ 2.08 | $ 3.96 |
| Weighted average common shares outstanding: | ||||
| Basic (in shares) | 38,745 | 38,867 | 38,780 | 38,896 |
| Diluted (in shares) | 38,808 | 38,961 | 38,852 | 39,004 |
| Fleet payment solutions [Member] | ||||
| Revenues | ||||
| Total revenues | $ 140,672 | $ 144,497 | $ 404,682 | $ 425,760 |
| Employee payment solutions [Member] | ||||
| Revenues | ||||
| Total revenues | 85,385 | 77,637 | 237,313 | 180,023 |
| Retained Earnings [Member] | ||||
| Expenses | ||||
| Accretion of non-controlling interest | $ (9,413) | $ 0 | $ (9,413) | $ 0 |
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- Definition The aggregate amount of communications, data processing and occupancy expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs related to services rendered by an entity during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents interest incurred for borrowed money which was used to produce goods or render services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of gain (loss) on sale or disposal of equity in securities of subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of expenditures for salaries, wages, profit sharing and incentive compensation, and other employee benefits, including equity-based compensation, and pension and other postretirement benefit expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of general expenses not normally included in Other Operating Costs and Expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of expense related to credit loss from transactions other than loan and lease transactions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount provided for estimated restructuring charges, remediation costs, and asset impairment loss during an accounting period. Generally, these items are either unusual or infrequent, but not both (in which case they would be extraordinary items). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accretion of Non-controlling Interest No definition available.
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- Definition Net Income (Loss) Attributable to Parent, After Accretion of Non-controlling Interest No definition available.
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- Definition Net Realized And Unrealized Gains And Losses On Fuel Price Derivatives No definition available.
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- Definition Non-Cash Adjustments Related to Tax Receivable Agreement No definition available.
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- Definition Fees to maintain software and hardware technology leasing. No definition available.
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